Plateau II gets go-ahead

Iqaluit’s city council approved plans to begin phase two of the Plateau subdivision this coming summer.

That means residents could see another 45 to 50 lots developed in the next year, at a cost of about $4 million.

That money comes from the city’s development fund, a pot of money that’s separate from the rest of the city’s finances. The fund is refilled when residents buy property or pay down their leases.

Lots from the first phase of the Plateau subdivision sold out quickly during a ballot draw in April. With no end to Iqaluit’s housing shortage in sight, the city’s lands officials expect the new lots will be snatched up as well.